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The phrase "down to the wire" comes from horse racing, where it was long the practice to stretch a wire throughout and above the track at the goal.

The stating is likewise a timely and apt descriptor of a costs authorized Friday by the House Ways and Means Committee that would legalize sports betting in the state while restricting some gaming gadgets at horse racing tracks, all with just six legal - and 10 calendar - days remaining in the session.
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By a voice vote, the committee adopted a delete-all modification to put the language of HF2000 (sports wagering) into the underlying language of HF5274 (horse track guidelines). A split-voice vote sent the combined package to your home Floor.Rep. Zack Stephenson

Legalizing sports betting

Rep. Zack Stephenson (DFL-Coon Rapids) sponsors both costs and says legalizing sports wagering is the best method to fight the blossoming illicit black market that already exists in the state.

"It is unlawful to take part in sports betting in Minnesota today, and it takes place every single day in extreme quantities. We will be transitioning people from the black market into a genuine market."

By doing so, Stephenson stated, the state would gather taxes on all sports wagers, which would both benefit the state's bottom line and be used to run programs to treat problem bettors.

The bill would approve sports wagering licenses to the 11 tribal countries in Minnesota and permit those ages 21 and older to bank on a variety of athletic occasions, including esports. Wagers would be enabled at brick-and-mortar areas on tribal lands or using mobile apps accredited to tribal entities.

Wagers could not be put on horse racing or youth sports however would be enabled on specific kinds of fantasy contests.

A tax would be enforced on sports wagering net profits equivalent to 20% of wagers positioned online through a site or mobile application. Bets put on tribal land would be exempt from the proposed tax.

[MORE: View the spreadsheet] House Ways and Means Committee - part 1 5/10/ 24

Stephenson stated the expense would restrict banking on horse races since doing otherwise would threaten the economic practicality of Minnesota's two horse racing tracks, which are already struggling due to the shrinking purses they have the ability to pay.

Portions of the tax income would be utilized to money purse supplements of $625,000 each year at the tracks: 72% would go to Canterbury Park and 28% to Running Aces.

Despite steps required to safeguard horse racing in the state, consisting of the funds to supplement handbags, Rep. Brian Pfarr (R-Le Sueur) said legalizing sports wagering would deal a big blow to both tracks. "That's not enough, due to the fact that if those organization are gone, it does not matter."

Appropriations

The costs would proper $8.32 million in financial year 2025 to the Department of Public Safety to carry out tasks required to develop and control mobile sports betting and dream contests. Future appropriations would be $5.49 million in 2026 and $5.47 million each year starting in financial year 2027.

[MORE: View financial analysis]
Regulating betting at horse racing tracks

The costs would define that "historical horse racing" devices are gambling devices and therefore not enabled at Canterbury Park and Running Aces.
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Stephenson said these devices are "essentially slot devices" since of the random nature of the payments. By law, slots can just be located on tribal lands.

Historical horse racing is an electronic gambling product that enables players to bank on random replays of formerly run races, utilizing terminals that normally resemble slots. Identifying information such as the area and date of the race, and the names of the horses and jockeys, is not shown.
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